Forsta AP Fonden Takes Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Forsta AP Fonden opened a new position in Credo Technology Group, buying 48,900 shares valued at about $7.0 million in the fourth quarter.
• Credo delivered a strong fiscal Q4, with EPS of $1.16 and revenue of $437 million, both ahead of expectations, while revenue surged 157% year over year on AI/data center demand.
• The company also issued upbeat Q1 fiscal 2027 revenue guidance of $465 million to $475 million, and analysts remain constructive overall, with several firms raising price targets despite the stock’s sharp after-hours drop.

Forsta AP Fonden acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 48,900 shares of the company's stock, valued at approximately $7,036,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRDO. NewEdge Advisors LLC grew its position in shares of Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock valued at $284,000 after purchasing an additional 3,972 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after purchasing an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Credo Technology Group by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock valued at $12,480,000 after purchasing an additional 7,107 shares during the period. CW Advisors LLC purchased a new stake in Credo Technology Group during the second quarter valued at about $288,000. Finally, EverSource Wealth Advisors LLC grew its position in Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock valued at $46,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Key Stories Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo reported fiscal Q4 earnings of $1.16 per share, topping the $1.03 consensus estimate, on revenue of $437.0 million, which also beat expectations. Revenue jumped 157% year over year, highlighting continued momentum in AI/data center connectivity demand. Article Title
• Positive Sentiment: The company’s revenue guidance for Q1 fiscal 2027 of $465 million to $475 million came in above the Street’s $462.9 million estimate, reinforcing expectations for continued growth. Article Title
• Positive Sentiment: Mizuho raised its price target on Credo Technology Group (CRDO) from $220 to $260 and reiterated an outperform rating, signaling analyst confidence in the stock’s longer-term upside. Article Title
• Neutral Sentiment: Credo continues to be mentioned as an AI infrastructure and data center beneficiary, which supports the growth story but is not a new fundamental catalyst on its own. Article Title
• Negative Sentiment: Despite the earnings beat, the stock fell sharply after hours as investors seemed disappointed by the market’s reaction and may be worried about sustainability of margins and expectations after a big run-up. Article Title

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the sale, the chief executive officer owned 1,782,502 shares in the company, valued at $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the sale, the chief technology officer owned 6,272,370 shares in the company, valued at $737,630,712. The trade was a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 386,608 shares of company stock worth $50,371,351. Insiders own 11.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Credo Technology Group from $125.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Roth Mkm reissued a "buy" rating and set a $300.00 price target on shares of Credo Technology Group in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $270.00 price target on shares of Credo Technology Group in a research report on Tuesday. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Finally, Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research report on Friday, May 1st. They set a "buy" rating and a $206.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $225.65.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $226.10 on Tuesday. Credo Technology Group Holding Ltd. has a one year low of $59.88 and a one year high of $243.21. The business's 50-day simple moving average is $160.55 and its 200 day simple moving average is $145.28. The stock has a market cap of $41.70 billion, a price-to-earnings ratio of 125.61 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company's revenue was up 157.0% compared to the same quarter last year. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Credo Technology Group Profile

Credo Technology Group, Inc NASDAQ: CRDO is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo's product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.

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